{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/58.1-1503.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/58.1-1503.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/58.1-1503.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/58.1-1503.html"}],"law_id":86448,"edition_id":1,"section_id":86448,"structure_id":14700,"section_number":"58.1-1503","catch_line":"Basis of tax; estimate of tax; penalty for misrepresentation","history":"Code 1950, \u00a7\u00a7 58-685.30, 58-685.33; 1974, c. 431; 1975, c. 424; 1977, c. 396; 1984, c. 675.","full_text":"A\n\nThe Tax Commissioner shall levy and collect the tax for the use or sale of an aircraft pursuant to subdivisions 1 and 2 of § 58.1-1502 upon the basis of the sale price of such aircraft.\n\t\t\tAny person who sells an aircraft in the Commonwealth shall supply the buyer with an invoice, signed by the seller or his representative, which shall state the sale price of the aircraft. The buyer shall present such invoice to the Tax Commissioner with his return and payment of the tax.B\n\nThe Tax Commissioner shall levy and collect the tax on an aircraft licensed for commercial use and held by a dealer who has elected to be taxed under subdivision 3 of § 58.1-1502 on the basis of the gross receipts arising from all transactions involving the rental or use of such aircraft during the preceding calendar month. The dealer shall submit a return to the Commissioner on a form prescribed by him, showing the gross receipts from such transactions at the time that the dealer remits his tax payment.C\n\nIn any case where (i) the invoice is not available, (ii) the Tax Commissioner has reason to believe that an invoice or return does not reflect the true sales price or gross receipts, or (iii) the aircraft was purchased more than six months prior to its use or storage in this Commonwealth, the Commissioner may assess the tax in accordance with such publications or other data as are customarily employed in ascertaining the maximum sale price of aircraft. Where the Commissioner finds that a charge for the rental or use of aircraft has been lower than the fair market value of such rental or use, the Commissioner may estimate a fair price in accordance with the cost of the aircraft, the cost of maintenance, the normal rental value as shown in similar transactions, or other relevant data.\n\t\t\tAny person who knowingly misrepresents the value of an aircraft or the amount of tax due to the Commissioner or on any return or invoice shall be guilty of a Class 1 misdemeanor.","order_by":null,"text":{"0":{"id":309648,"text":"The Tax Commissioner shall levy and collect the tax for the use or sale of an aircraft pursuant to subdivisions 1 and 2 of § 58.1-1502 upon the basis of the sale price of such aircraft.\n\t\t\tAny person who sells an aircraft in the Commonwealth shall supply the buyer with an invoice, signed by the seller or his representative, which shall state the sale price of the aircraft. The buyer shall present such invoice to the Tax Commissioner with his return and payment of the tax.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":309649,"text":"The Tax Commissioner shall levy and collect the tax on an aircraft licensed for commercial use and held by a dealer who has elected to be taxed under subdivision 3 of § 58.1-1502 on the basis of the gross receipts arising from all transactions involving the rental or use of such aircraft during the preceding calendar month. The dealer shall submit a return to the Commissioner on a form prescribed by him, showing the gross receipts from such transactions at the time that the dealer remits his tax payment.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":309650,"text":"In any case where (i) the invoice is not available, (ii) the Tax Commissioner has reason to believe that an invoice or return does not reflect the true sales price or gross receipts, or (iii) the aircraft was purchased more than six months prior to its use or storage in this Commonwealth, the Commissioner may assess the tax in accordance with such publications or other data as are customarily employed in ascertaining the maximum sale price of aircraft. Where the Commissioner finds that a charge for the rental or use of aircraft has been lower than the fair market value of such rental or use, the Commissioner may estimate a fair price in accordance with the cost of the aircraft, the cost of maintenance, the normal rental value as shown in similar transactions, or other relevant data.\n\t\t\tAny person who knowingly misrepresents the value of an aircraft or the amount of tax due to the Commissioner or on any return or invoice shall be guilty of a Class 1 misdemeanor.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":14700,"edition_id":1,"name":"Virginia Aircraft Sales and Use Tax","identifier":"15","label":"chapter","depth":3,"order_by":1,"parent_id":12837,"metadata":{},"date_created":"2026-06-26 03:49:24","date_modified":"2026-06-26 03:49:24","permalink":{"id":252577,"object_type":"structure","relational_id":14700,"identifier":"15","token":"58.1\/I\/15","url":"\/58.1\/I\/15\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12837,"edition_id":1,"name":"Taxes Administered by the Department of Taxation","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12703,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":252075,"object_type":"structure","relational_id":12837,"identifier":"I","token":"58.1\/I","url":"\/58.1\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12703,"edition_id":1,"name":"Taxation","identifier":"58.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":251959,"object_type":"structure","relational_id":12703,"identifier":"58.1","token":"58.1","url":"\/58.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":60270,"structure_id":14700,"section_number":"58.1-1500","catch_line":"Title","url":"\/58.1-1500\/","token":"58.1\/I\/15\/58.1-1500","metadata":false},{"id":80281,"structure_id":14700,"section_number":"58.1-1501","catch_line":"Definitions","url":"\/58.1-1501\/","token":"58.1\/I\/15\/58.1-1501","metadata":false},{"id":71879,"structure_id":14700,"section_number":"58.1-1502","catch_line":"Tax levied","url":"\/58.1-1502\/","token":"58.1\/I\/15\/58.1-1502","metadata":false},{"id":86448,"structure_id":14700,"section_number":"58.1-1503","catch_line":"Basis of tax; estimate of tax; penalty for misrepresentation","url":"\/58.1-1503\/","token":"58.1\/I\/15\/58.1-1503","metadata":false},{"id":57300,"structure_id":14700,"section_number":"58.1-1504","catch_line":"Credit against tax","url":"\/58.1-1504\/","token":"58.1\/I\/15\/58.1-1504","metadata":false},{"id":68485,"structure_id":14700,"section_number":"58.1-1505","catch_line":"Exemptions","url":"\/58.1-1505\/","token":"58.1\/I\/15\/58.1-1505","metadata":false},{"id":72324,"structure_id":14700,"section_number":"58.1-1506","catch_line":"Time for payment of tax","url":"\/58.1-1506\/","token":"58.1\/I\/15\/58.1-1506","metadata":false},{"id":86323,"structure_id":14700,"section_number":"58.1-1507","catch_line":"Election by commercial dealer; revocation; eligibility","url":"\/58.1-1507\/","token":"58.1\/I\/15\/58.1-1507","metadata":false},{"id":71171,"structure_id":14700,"section_number":"58.1-1508","catch_line":"Retention of documents; examination by Commissioner","url":"\/58.1-1508\/","token":"58.1\/I\/15\/58.1-1508","metadata":false},{"id":64771,"structure_id":14700,"section_number":"58.1-1509","catch_line":"Disposition of funds","url":"\/58.1-1509\/","token":"58.1\/I\/15\/58.1-1509","metadata":false},{"id":56341,"structure_id":14700,"section_number":"58.1-1510","catch_line":"Civil penalties","url":"\/58.1-1510\/","token":"58.1\/I\/15\/58.1-1510","metadata":false}],"previous_section":{"id":71879,"structure_id":14700,"section_number":"58.1-1502","catch_line":"Tax levied","url":"\/58.1-1502\/","token":"58.1\/I\/15\/58.1-1502","metadata":false},"next_section":{"id":57300,"structure_id":14700,"section_number":"58.1-1504","catch_line":"Credit against tax","url":"\/58.1-1504\/","token":"58.1\/I\/15\/58.1-1504","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-1503\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 4 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1974, chapter 431; in 1975, chapter 424; in 1977, chapter 396; in 1984, chapter 675.<\/p>","references":[{"id":80281,"section_number":"58.1-1501","catch_line":"Definitions","order_by":null,"url":"\/58.1-1501\/"},{"id":71171,"section_number":"58.1-1508","catch_line":"Retention of documents; examination by Commissioner","order_by":null,"url":"\/58.1-1508\/"}],"refers_to":[{"id":71879,"section_number":"58.1-1502","catch_line":"Tax levied","order_by":null,"url":"\/58.1-1502\/"}],"permalink":{"id":252591,"object_type":"law","relational_id":86448,"identifier":"58.1-1503","token":"58.1\/I\/15\/58.1-1503","url":"\/58.1-1503\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/58.1-1503\/","token":"58.1\/I\/15\/58.1-1503","dublin_core":{"Title":"Basis of tax; estimate of tax; penalty for misrepresentation","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-1503","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The Tax Commissioner<\/span> shall levy<\/span> and collect the tax for the use or sale of an aircraft<\/span> pursuant to subdivisions 1 and 2 of § 58.1-1502<\/a> upon the basis of the sale price<\/span> of such aircraft<\/span>.\n\t\t\tAny person who sells an aircraft<\/span> in the Commonwealth shall supply the buyer with an invoice, signed by the seller or his representative, which shall state the sale price<\/span> of the aircraft<\/span>. The buyer shall present such invoice to the Tax Commissioner<\/span> with his return and payment of the tax. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Tax Commissioner<\/span> shall levy<\/span> and collect the tax on an aircraft<\/span> licensed for commercial use and held by a dealer<\/span> who has elected to be taxed under subdivision 3 of § 58.1-1502<\/a> on the basis of the gross receipts<\/span> arising from all transactions involving the rental or use of such aircraft<\/span> during the preceding calendar month. The dealer<\/span> shall submit a return to the Commissioner on a form prescribed by him, showing the gross receipts<\/span> from such transactions at the time that the dealer<\/span> remits his tax payment. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> In any case where (i) the invoice is not available, (ii) the Tax Commissioner<\/span> has reason to believe that an invoice or return does not reflect the true sales<\/span> price or gross receipts<\/span>, or (iii) the aircraft<\/span> was purchased more than six months prior to its use or storage in this Commonwealth, the Commissioner may assess the tax in accordance with such publications or other data as are customarily employed in ascertaining the maximum sale price<\/span> of aircraft<\/span>. Where the Commissioner finds that a charge for the rental or use of aircraft<\/span> has been lower than the fair market value of such rental or use, the Commissioner may estimate a fair price in accordance with the cost of the aircraft<\/span>, the cost of maintenance, the normal rental value as shown in similar transactions, or other relevant data.\n\t\t\tAny person who knowingly misrepresents the value of an aircraft<\/span> or the amount of tax due to the Commissioner or on any return or invoice shall be guilty of a Class 1 misdemeanor<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nBASIS OF TAX; ESTIMATE OF TAX; PENALTY FOR MISREPRESENTATION (\u00a7 58.1-1503)\n\nA. The Tax Commissioner shall levy and collect the tax for the use or sale of an\naircraft pursuant to subdivisions 1 and 2 of § 58.1-1502 upon the basis of\nthe sale price of such aircraft.\n\t\t\tAny person who sells an aircraft in the Commonwealth shall supply the buyer\nwith an invoice, signed by the seller or his representative, which shall state\nthe sale price of the aircraft. The buyer shall present such invoice to the Tax\nCommissioner with his return and payment of the tax.\n\nB. The Tax Commissioner shall levy and collect the tax on an aircraft licensed\nfor commercial use and held by a dealer who has elected to be taxed under\nsubdivision 3 of § 58.1-1502 on the basis of the gross receipts arising\nfrom all transactions involving the rental or use of such aircraft during the\npreceding calendar month. The dealer shall submit a return to the Commissioner\non a form prescribed by him, showing the gross receipts from such transactions\nat the time that the dealer remits his tax payment.\n\nC. In any case where (i) the invoice is not available, (ii) the Tax Commissioner\nhas reason to believe that an invoice or return does not reflect the true sales\nprice or gross receipts, or (iii) the aircraft was purchased more than six\nmonths prior to its use or storage in this Commonwealth, the Commissioner may\nassess the tax in accordance with such publications or other data as are\ncustomarily employed in ascertaining the maximum sale price of aircraft. Where\nthe Commissioner finds that a charge for the rental or use of aircraft has been\nlower than the fair market value of such rental or use, the Commissioner may\nestimate a fair price in accordance with the cost of the aircraft, the cost of\nmaintenance, the normal rental value as shown in similar transactions, or other\nrelevant data.\n\t\t\tAny person who knowingly misrepresents the value of an aircraft or the amount\nof tax due to the Commissioner or on any return or invoice shall be guilty of a\nClass 1 misdemeanor.\n\nHISTORY: Code 1950, \u00a7\u00a7 58-685.30, 58-685.33; 1974, c. 431; 1975, c. 424; 1977,\nc. 396; 1984, c. 675.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}